Debt to pay Debt

So with the U.S. bailing out the bad banks with $700 billion, we have got to ask the question is this really the right thing to do?

Now i would not call myself an economic genius (i cannot even spell the word, i had to use spell checker!) but i seems to me that paying off debt with more debt is not the best way of going about things, and not just from a financial point of view.

the questions it raises for me are ones about the values that this way of going about the problem is teaching people.  It seems like i am not the only one who is thinking in these terms click on here to see more….

It seems to me that the problem of all these issues is the fact that people are not being taught about how to use money wisely.  One of the main problems is the fact that the ideas and philosophies are telling people that they need to have more things in order to be happy, but in order to have more things people have to get into debt to get them which them means that they screwed and unhappy!!!

I really think that those people who hold a Christian faith need to speak up a lot more about these issues.  ‘Balls’ to the fact that it is a culturally taboo subject not to talk about our own finances we need to be totally transparent and open about our whole lives as Christians and especially when it comes to money.

Our job as Christians is not o be rich or to be poor but to live responsibly with what God has given to us.  If you are someone who is good with money then please share the knowledge with those who are not and if you are pants with money then please share that knowledge with those who are not.

we are going to learn nothing by bail outs and easy options, life is hard and so are big life choices but when we live as community them problems are better shared.

Ben.

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2 thoughts on “Debt to pay Debt

  1. TimC

    Ben,

    I’m with you all the way. kind of ironic that the gospel reading for this Sunday was the one about the farmer who kept building bigger barns to store his crops and then died one night before he could enjoy any of it. made me think of people building bigger banks….

    TimC

    Reply
  2. Andrew Huzzard

    Interesting blog mate, like it.

    I think you are absolutely right on the money here (no pun intended!)… only today I see that car sales are down 20% since last year, and mortgage lending down 95% year on year… and yet major companies in both these industries are calling strongly for the UK government to lower interest rates to “boost” the economy – simply to encourage people to take on more debt when we are all clearly at the limit as a society… I find it sickening…

    Reply

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